Lathe sale

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Democritus

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Hi Guys,
My wife has bought me a new Stratos lathe, so I want to sell my Axminster 1628vs lathe. I will probably sell it through eBay. It’s 5 years old, and in good used condition.
Having never sold a lathe, i’d like your opinions as to what would be a fair price to ask.
D.
 

Eric Roy

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Over many years of selling some high value items on eBay (my own surplus tools, computers etc) I have always gone for auctions starting at 99p. This both minimises the fees to eBay and attracts more early interest.

It does take a bit of bottle, but if you have good photos and a clear and complete description the market sets the price.

The scariest was putting our folding camper on, but it was bid up from 99p to over £2800. 👌
 

bushwhaker

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I think that 1628 are similar (or same) as Axminster Trade AT406 lathe today.
 

Barkisland

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Is there a time limit on auctions, and do you have to accept the last bid?

As the seller you set the length of time of the auction (within various parameters) and the final highest bid is the winning bid.
There is an option to set a reserve which would offer less of a nail biting ride...
 

Terry - Somerset

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On the odd occasion I have sold stuff on Ebay I set a reserve ~20% below other similar items already for sale or previously sold, with a buy it now ~10% below.

This costs a little more in fees but ensures that (a) I am protected from large losses if the auction fails to get underway, and (b) items tend to sell quickly = less hassle.

Having said all that, there seems little at the moment to compare with. As a new one costs ~£1900, were I selling a lightly used un-abused example I would expect to achieve £1200-1400 + any extras you have - bed extension, legs etc.
 

Eric Roy

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There is an option to set a reserve which would offer less of a nail biting ride...
Yes, a reserve price can be useful but there are two downsides:
  • The act of setting a reserve price attracts a fee - but this might be a price worth paying if it gives you peace of mind
  • Bidders can get frustrated and lose interest when their bids are rejected as “below reserve” especially as they do not know what the reserve is!
I would suggest that setting a starting price rather than a reserve might work better in most cases?
 

Democritus

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Thanks chaps.
I am very wary of using an auction process that seems a) a bit complicated, and b) might end putting potential buyers off.. Setting a realistic starting price (a sort of reserve) rather than 99p might be a better option as a start to any auction.
I haven’t thought about selling it on this forum. Might be a good idea.
D.
 

Chisteve

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I always list items on eBay at a starting price I want for it and allow offers at the same price

Works quite well to be honest the majority of item sell to one bidder, sometimes takes a while for some items to sell
 

Robbo3

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As suggested earlier, there is a For Sale section on UKworkshop.
Gumtree is another option with the advantage over ebay that it is free, the buyer will collect & pay cash or whatever method is agreed upon.
 

Stigmorgan

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As suggested earlier, there is a For Sale section on UKworkshop.
Gumtree is another option with the advantage over ebay that it is free, the buyer will collect & pay cash or whatever method is agreed upon.
The problem with gumtree, and any other similar free site, is that people expect to get stuff for next to nothing, for example, I currently have a leather recliner listed, it is in good condition and works perfectly, I have listed it for a mere £30 which in my mind is an absolute bargain, I cant cou t the number of time I've been offered less than £10, I even had one person tell me I should let them have it for free because they would be travelling 50 miles to come collect it.
 

Democritus

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Thanks for all the suggestions, boys. Who’d a thought selling something would be so complicated....!
Any road up, I think I’ll put it on eBay and on here with a fixed price and see what happens.
D.
 
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